Keefe, Bruyette & Woods Reaffirms Outperform Rating for QCR (NASDAQ:QCRH)

Key Points

• QCR Holdings (NASDAQ:QCRH) has received an "outperform" rating from Keefe, Bruyette & Woods, with a price target raised to $92.00, suggesting a potential upside of 23.20% from its current price.
• Despite the positive outlook from some analysts, Wall Street Zen downgraded QCR to a "sell," while Piper Sandler and Raymond James set target prices of $88.00 and $78.00 respectively.
• QCR's stock opened at $74.68 and has shown a 12-month price range, with a low of $60.83 and a high of $96.08.
• The company reported quarterly earnings with an EPS of $1.73, exceeding expectations, although revenue fell short of estimates.

QCR (NASDAQ:QCRH - Get Free Report)'s stock had its "outperform" rating reiterated by investment analysts at Keefe, Bruyette & Woods in a report released on Friday,Benzinga reports. They presently have a $92.00 price target on the bank's stock, up from their prior price target of $90.00. Keefe, Bruyette & Woods' target price points to a potential upside of 25.94% from the company's previous close.

A number of other analysts have also recently issued reports on the company. Raymond James Financial set a $78.00 target price on QCR and gave the stock an "outperform" rating in a report on Thursday, April 24th. Wall Street Zen cut QCR from a "hold" rating to a "sell" rating in a research note on Saturday, June 28th. Finally, Piper Sandler cut their price target on QCR from $98.00 to $88.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $87.38.

QCR Stock Performance

Shares of QCRH traded down $0.87 during mid-day trading on Friday, reaching $73.05. 34,355 shares of the company's stock were exchanged, compared to its average volume of 92,806. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $1.24 billion, a PE ratio of 11.00 and a beta of 0.80. The business's fifty day simple moving average is $69.54 and its 200-day simple moving average is $71.35. QCR has a 52-week low of $60.83 and a 52-week high of $96.08.

QCR (NASDAQ:QCRH - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The bank reported $1.73 EPS for the quarter, topping the consensus estimate of $1.63 by $0.10. The company had revenue of $84.20 million for the quarter, compared to analyst estimates of $95.11 million. QCR had a net margin of 19.43% and a return on equity of 11.86%. On average, equities research analysts expect that QCR will post 6.82 earnings per share for the current year.

Institutional Investors Weigh In On QCR

A number of large investors have recently added to or reduced their stakes in QCRH. New Age Alpha Advisors LLC bought a new position in shares of QCR in the 1st quarter valued at $46,000. Lazard Asset Management LLC increased its holdings in QCR by 3,042.1% during the 4th quarter. Lazard Asset Management LLC now owns 597 shares of the bank's stock worth $48,000 after purchasing an additional 578 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of QCR in the 1st quarter worth approximately $210,000. R Squared Ltd lifted its stake in QCR by 309.3% in the first quarter. R Squared Ltd now owns 3,250 shares of the bank's stock valued at $232,000 after purchasing an additional 2,456 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of QCR during the fourth quarter worth $237,000. Institutional investors and hedge funds own 70.01% of the company's stock.

About QCR

QCR Holdings, Inc, a multi-bank holding company, provides commercial and consumer banking, and trust and asset management services. The company's deposit products include noninterest-bearing demand, interest-bearing demand, time, and brokered deposits. It also provides various commercial and retail lending/leasing, and investment services to corporations, partnerships, individuals, and government agencies.